UPI to roll out services targeting rural users with limited internet access and literacy
email rounding up the latestIndia is to roll out ways of making voice-based and offline digital payments to expand the country’s fast-growing digital infrastructure and close a yawning divide between rural and urban areas.
To address this gap, the Reserve Bank of India this month announced a plan for “conversational” payments. UPI users will be able to make verbal transfer instructions on their phones which will be processed using AI-based speech recognition to initiate transactions. Dilip Asbe, head of the National Payments Corporation of India, the state-backed entity which manages UPI, said the measures — which will be introduced in the coming months — will facilitate digital payments outside India’s largest cities, where growth has been concentrated.
Vijay Shekhar Sharma, founder of Indian payments group Paytm, said the offline function for UPI could be a “game changer”.
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